| Tue 18 Mar 2008, 15:59 | | TBS - Tiger Brands Limited - Further cautionary announcement |
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TBS
TIIH
TBS - Tiger Brands Limited - Further cautionary announcement
TIGER BRANDS LIMITED
"Tiger Brands" or "the Company"
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
ADCOCK INGRAM
Adcock Ingram Critical Care (Proprietary) Limited
Shareholders of Tiger Brands are referred to the announcement made on SENS on
12 February 2008, in which shareholders were informed of the receipt by Tiger
Brands of a complaint referral (the "complaint referral") regarding alleged
anti-competitive practices by Adcock Ingram Critical Care (Proprietary)
Limited ("AICC").
This announcement informed shareholders that Tiger Brands had commissioned an
enquiry into the matters raised by the Competition Commission (the "Commission")
in the complaint referral, for the purpose of determining the veracity or
otherwise thereof (the "internal verification process").
Whilst the internal verification process is not yet finalised, significant
progress has been made.
Pursuant to an engagement between the lawyers representing Tiger Brands and
AICC on the one hand and the Commission on the other hand, AICC will,
notwithstanding that the internal verification process remains incomplete, file
an answering affidavit as soon as is possible but no later than 28 March 2008.
AICC intends to respond in a manner that will preserve its legal position.
Upon finalisation of the internal verification process, the board of Tiger
Brands will take a final decision regarding its further conduct in the matter.
Unbundling and Separate Listing of Adcock Ingram - Renewal of Cautionary
Announcement
Shareholders are referred to various cautionary announcements with the most
recent one being published on 29 January 2008, in which Tiger Brands provided
shareholders with information regarding the unbundling process and separate
listing of its healthcare interests on the JSE Limited.
As the Company is not currently in a position to formally respond to the
allegations contained in the Commission`s complaint referral, it is not
possible to provide a definitive timetable with regard to the proposed
unbundling and separate listing of Adcock Ingram. Tiger Brands remains
committed to the strategic imperatives of the unbundling and will, at the
earliest opportunity, provide an indication of the proposed timetable for the
transaction.
Accordingly, shareholders are advised to continue to exercise caution in their
dealings in the securities of the Company until such time as a further
announcement is made.
Bryanston
Date: 18 March 2008
Financial Advisor
UBS South Africa (Pty) Limited
Sponsor
JP Morgan Equities Limited
Date: 18/03/2008 15:59:47 Produced by the JSE SENS Department.
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